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A survey found that when income increase By 10 percent, the following changes in quantities demanded

A survey found that when income increase By 10 percent, the following changes in quantities demanded occurred: Plane rides up by 18%, luxury hotel rooms up by 9%, and bus rides down by 12%.calculate the income elasticity of demand for plane rides, luxury hotel rooms, and bus rides.

 

Apr 25 2020 View more View Less

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